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Some 2.5 million Americans lost their jobs in 2008, and this year three million more are likely to be laid off.  We look at the impact of unemployment across the country.  What will it take to get the next job in a restructured economy? Also, President Obama's envoy is in Jerusalem as fighting flares, and recession or not, a Super Bowl ad still costs $100,000 a second.  Why would a company pay that kind of money?

Banner image: Men walk near rows of Caterpillar products at Quinn Co. Caterpillar in City of Industry, California. The biggest international manufacturer of construction equipment, Caterpillar, will eliminate 20,000 jobs, about 18 percent of its workforce, after it announced its fourth-quarter profit dropped of 32%. Photo: David McNew/Getty Images

Main Topic The Ravages of Unemployment

Monday, it was 20,000 at Caterpillar, 8,000 at Pfizer and Sprint/Nextel and 7,000 at Home Depot. Yesterday it was 3500 at Corning Glass and today it’s 10,000 at Boeing. In manufacturing and retail, even in Silicon Valley, unemployment is rising fast. With Congress debating his stimulus plan, President Obama spoke to a roomful of CEO’s today. He said what they do matters more than what happens in Washington. We hear which workers are most likely to be laid off and which companies are trying to hold on to their employees. In an economy transformed by recession, what will it take to get the next job?

Rajeev Dhawan, Director of the Economic Forecasting Center, Georgia State University
Eric Savitz, Blogger and Columnist, Barron's
Charles Heckscher, Director of the Center for Workplace Transformation, Rutgers University
Kate Wendleton, President, Five O’Clock Club

Making News Obama’s Envoy in Jerusalem as Fighting Flares 6 MIN, 3 SEC

On his first trip as Barack Obama's Middle East Envoy George Mitchell has gone from Cairo to Jerusalem. But relations between Israel and the Palestinians have gone from bad to worse. An Israeli soldier was killed by a car bomb on its frontier with the Gaza Strip and Israel responded with tanks and air strikes.  Isabel Kershner is in Jerusalem for the New York Times.

Isabel Kershner, New York Times (@IKershner)

Reporter's Notebook SuperBowl Ad Madness at $3 Million and 30 Seconds 7 MIN, 46 SEC

On Sunday, the Pittsburgh Steelers will play the Arizona Cardinals in this year's SuperBowl. Viewership may be lower than usual but, despite the failing economy, advertising will cost more than ever, up to $3 million for 30 seconds of airtime. One 90-second spot will be in 3-D. FedEx and General Motors have dropped out of this year's bowl, but Denny's restaurants and Pedigree dog food will be there for the first time, and the game is a sellout for advertisers. Suzanne Vranica reports on the ad industry for the Wall Street Journal.

Suzanne Vranica, Advertising Industry Reporter, Wall Street Journal


Warren Olney

Andrea Brody
Katie Cooper

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